How to link PAN with LIC policy to invest in LIC IPO

Life Insurance Corporation of India (LIC) is government owned and is the largest life insurance company with an IPO on the cards where the government is planning to offload a portion of its shares to the public. To be able to be eligible to apply for the shares as an existing policyholder, it is important to make sure certain details are updated by the policyholder on the LIC portal.

Prerequisites
The prerequisites to be eligible for IPO under the policyholder category is as under:

• PAN details of the policyholder should be updated on LIC portal.
• Policyholder should have a demat account.

Process to link PAN

To link PAN, the policy holder needs to visit the LIC website at www.licindia.com and click on the button “Online PAN registration”. The policyholder needs to key in the date of birth, email ID PAN, name as per PAN, mobile number and policy number. If there are multiple policies, all policy numbers can be added. A mobile verification OTP is sent to the registered mobile number of the policyholder. Once the authentication is completed, one can check the status of updation by clicking on the button “Online Checking Policy PAN Status” on the LIC website.

Also read: LIC IPO: Deadline for policyholders to update PAN to apply for shares
Also read: LIC IPO: 2 things policy holders must have to apply

Demat account
The next prerequisite is to have a demat account. If the policyholder already has one, no new account needs to be opened. However, if there is no demat account, one can open the same with any Depository Participant (DP).

Point to note

• Those who are not LIC policyholders also can apply for the IPO under the investment category as applicable—retail or institutional.
• One can choose to take the help of the LIC agent to make sure all updates have been carried out.

(Content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)